Hi ,
This is probably a basic question but I just need some clarification.
I have a small IRA with vanguard $11k, I would like to do a direct transfer of this IRA to a new IRA with fidelity ( I have a roth and IRA with them at the moment, so I just want to keep all my funds at the once firm)
Also I have a IRA with TD amertitrade $7k
I know when my 401K was Rolled over into a IRA when I quit work a few yrs ago, that involved a 1099r and 5498, since the funds were redistributed then put into the IRA...I did not touch the $$ it was all automated via fidelity.
I believe this type of transaction can only be done once a year.
Ok...if I transfer my vanguard IRA to a new fidelity IRA will they still issue the 1099r ?????I am transferring like to like, I was going to switch everything to a cash money market in vanguard and transfer that, then put invest the money when I am with fidelity.
Is transferring from one firm to another a easy process, like I said its just a IRA to IRA transfer , and we will switch to money market to make it a simple process....I hope !
Thanks for any clarification on this matter.